Koch Brothers Abandon Pursuit Of Tribune Co.'s Newspapers

By Jake Simpson

Law360, New York (August 23, 2013, 3:32 PM ET) -- David and Charles Koch, the billionaire brothers famous for their vast business empire and their strong support of conservative policies, have decided not to pursue an acquisition of the Tribune Co.'s newspaper assets, including the Los Angeles Times and Chicago Tribune, the Kochs' company confirmed Friday.

In a brief statement Friday responding to media reports that deal talks have broken off, Koch Industries Inc. said it had dropped its pursuit of the Tribune Co. papers, but reiterated that the company is still interested in making strategic...